Tax Office: Individuals Earned at Least 64 Million Euros Through Platforms Last Year
Individuals in Estonia have increasingly turned to online platforms to earn income, with earnings rising from 89 million euros in 2023 to over 109 million euros projected for 2024.
In Estonia, the trend of generating income through online platforms is on the rise, with individuals earning more than 89 million euros in 2023 alone. This method of earning offers flexibility and opportunity for many, particularly for those looking to supplement their income. The growing popularity of these platforms indicates a shift in how people engage with work and the gig economy.
For 2024, the tax authority anticipates that earnings through these platforms will surpass 109 million euros, reflecting a continuing trend of increasing financial diversification among the populace. This shift not only highlights the adaptability of the workforce but also raises questions regarding regulatory measures and taxation frameworks surrounding gig economy activities. The need for stringent reporting and tax compliance is essential, as foreign platforms will also become accountable to Estonian tax authorities in 2025.
As the year progresses, more definitive data regarding income from these platforms will be collected, with significant insights expected by the end of February. This data will aid policymakers in understanding the economic impact of platform-based earnings and may influence future regulatory decisions aimed at protecting gig workers while ensuring tax revenue is collected accordingly.